Gold prices attracted buying activity at the beginning of the week and held steady around the range of 2,431-2,432 USD, preventing a retreat. Iran's attack on Israel over the weekend not only pushed gold prices to new highs but also heightened market concerns. The US Dollar (USD), despite its weakness, continued to support the strong rise of gold.
Moreover, strong expectations regarding the Fed's first interest rate hike in September instead of June underscored the ongoing importance of inflationary pressures.
From a technical standpoint, on the 4-hour chart, gold prices continued to affirm their upward trend. The Relative Strength Index (RSI) surpassed the 50 threshold, setting the stage for a significant price increase in the near future.
Your analysis is so good, I also think the price of gold will continue to increase strongly. The politics of Iran and Israel I feel are so tense that they show no signs of abating
fardidto
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Prices continuously increase and create peaks, it is unknown when they will decrease
Stephen_Anders
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@fardidto, Prices are still going up, I hope they will decrease a bit